Rolls-Royce and Boeing HorizonX invest in Reaction Engines

Abingdon headquartered Reaction Engines will use the funding to support its development of its SABRE (Synergetic Air-Breathing Rocket Engine), which is capable of Mach 5 in air-breathing mode and Mach 25 in rocket mode for space flight.

As part of the SABRE program, Reaction Engines developed an ultra-lightweight heat exchanger that stops engine components from overheating at high speeds, which improves access to hypersonic flight and space.

Rolls-Royce and Boeing HorizonX Ventures, the investment arm of Boeing, join BAE Systems, which invested £20.6m in Reaction Engines in 2015 and is providing further investment in this round. Financial investments in Reaction Engines will also be made by Baillie Gifford Asset Management and Woodford Investment Management.

The company said it anticipates further investment interest in this funding round from existing shareholders and other financial institutions. All investments will take the form of a subscription for new shares.

“These new partners bring invaluable expertise in both hypersonics and engine technologies with significant access to target markets,” said Mark Thomas, chief executive of Reaction Engines. “This is not only a vote of confidence in our technology but also underlines belief in our ability to develop a thriving commercial business which will provide strong financial returns for our shareholders.”